Spot rubber rules steady

Print this page Posted on : 11-05-2009 by recycleinme.com

Kottayam, Nov. 4

Spot rubber rates continued to remain unchanged on Wednesday. The major consuming industries were totally inactive during the past few sessions and the market once again lost its direction in the absence of active participants on either side. Sheet rubber finished flat at Rs 109.50 a kg consecutively for the third day amidst thin volumes. Meanwhile latex 60 per cent fell on extremely low demand.

Futures firm

The November futures of RSS 4 closed lower at Rs 110 (110.33), December at Rs 112.48 (112.32), January at Rs 114.30 (114.26) and February at Rs 115.95 (116.02) a kg on National Multi Commodity Exchange (NMCE).

RSS 3 improved with its November futures rising to ?230.8 (?227.6) (Rs 119.50), December to ?229.3 (?226.5), January to ?228 (?224.6), February to ?227.5 (?224.2), March to ?226.7 (?223.1) and April to ?228.4 (?224.3) a kg during the day session on Tokyo Commodity Exchange (TOCOM). The December futures closed at ?230.5, January at ?230.5, March at ?228.6 and April at ?229.9 a kg while the November and February futures remained inactive during the night session. RSS 3 improved to Rs 116.08 (114.10) a kg on Singapore Commodity Exchange (SICOM). The grade closed at Rs 115.70 (115.12) a kg at Bangkok.

Spot rates were (Rs/kg): RSS-4: 109.50 (109.50); RSS-5: 105 (105); ungraded: 101 (101); ISNR 20: 99.50 (99.50) and latex 60 per cent: 71 (73).

Source : Business Line